- Dash token resonates within a descending triangle supported by the $150 mark.
- The coin price is trading below all significant EMAs with a recent bearish crossover of 50 and 100 EMA.
- The DASH/BTC pair trades at 0.004324 BTC with an intraday fall of 3.36%.
DASH Token price resonates within a descending triangle after facing rejection from the $225 mark. The short-term downtrend since the fall has led to the formation of this triangle. The $150 level has managed to push the price up, thereby avoiding any downtrend continuation.
The coin price has observed declining trading volume under the 20 MA, projecting an upcoming decisive move backed by volume. Furthermore, the token price is trading below all the critical EMAs- 20,50,100, and 200, and all of them provide strong opposition to any bullish move.
Presently, the DASH coin is valued at $153.57, with a fall of 3.95% in the market cap. The trading volume of the coin has fallen 8.87% in the past 24 hours. However, the DASH token dominates 0.11% of the total crypto market.
Dash Token Hangs Close To A Make It Or Break It Point
In the weekly frame, the Dash token price has faced rejection from near the $500 mark. The coin price took a hit of -65% within a fortnight before finding support from the $150 mark.
The coin price may soon break the $150 mark as the underlying bearish sentiments increase. The fall might result in another 30$ depreciation in DASH coin price. Investors might find this as a suitable entry point to buy the dip.
Upon the bearish fallout, the coin price might find support from the $100 and $85 mark, but even in the best case, the DASH token will have suffered a 35% fall or more.
However, in the unlikely case of a bullish breakthrough, the coin price may face opposition from the $225 and $325 mark.
The RSI indicator (bearish) implies a loss in bullish momentum as the RSI line dips to create lower lows and heads deeper into the oversold zone.
The ADX indicator projects a recent rise in trend momentum after a long-stagnant period. It might forecast the upcoming bearish move that might be backed by increased volume.
Conclusion – DASH token price seems to break the $150 mark shortly, projected by the increasing bearish in price action and technical indicators. The coin price might face a 30% fall, but this might generate a buy the dip moment. Investors must keep an eye out for reversal near the mentioned levels.